Analytic reviews

#MAGN

The overall trend is upward. The price pivot zone of 39.32 held back sellers. The descending H1 level pattern is truncated. Awesome Oscillator indicates a bullish divergence, and Stochastic Oscillator indicates an oversold condition.

#MAGN rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending wave pattern is formed.

Stop at the price pivot zone of 39.32.

Target levels: 40.18; 40.75.

GOLD
The overall trend is upward. The descending truncated pattern ended with the breakout of an inclined channel (presumably a wave B H4). Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of 1955.0 will result in the formation of an ascending wave H2 level pattern within the ascending H4 level wave (C).

GOLD rate online: monitor the price movement in real time.

Trading recommendations:

Buy above 1955.0.

Stop Loss: 1902.0.

Target levels: 2009.0; 2068.0.

EURUSD

The pair is consolidating in the range of 1.1770–1.1850 ahead of Jerome Powell’s speech at Jackson Hole symposium. If he indicates that the regulator will shift its inflation targets to “average”, this may support the US dollar. However, if he doesn’t report anything new about the Fed’s monetary policy plans, the dollar will weaken.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is at a level of 50%. Stoch are in the overbought zone.

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:
Negative factors for the dollar will drive the pair up to 1.1880, and then to 1.1965. In the opposite scenario, the price will fall to 1.1700.

Wednesday, August 26th, today’s news—gold is up amid the pessimistic data from the US, consumer confidence index and unemployment fears. The dollar is stronger, oil is up following an output cut by the US, European markets await the speech from the Fed's head Jerome Powell. The price of Brent oil is $46.37, WTI—$43.33. EUR/USD is at 1.1815, GBP/USD—1.3152, gold is $1,923.10 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

USDJPY technical analysis

The pair is trading higher below 106.50 against the background of the weaker dollar ahead of an expectedly important speech from the Fed’s head, Jerome Powell, to be made at the Jackson Hole symposium tomorrow. Drastic measures from the Fed aimed at supporting inflation are expected and may put pressure on the US currency in the near future. Keep track of the price movement in real time.

Trading recommendations: if the pair goes above 106.50, it may continue further up to 107.00.

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NZDUSD analysis

The overall trend is upward. The pair is trading in the upper bound of the Ichimoku cloud. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending 1-2-3 pattern is formed above 0.6564; Stop Loss: 0.6490; target levels: 0.6619, 0.6688.

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Trading ideas for JSC Inter RAO UES

The stock is trading in the lower range of 365 and 135 moving averages and is testing the price pivot zone of 5.270. Stochastic Oscillator indicates an oversold condition. The price is also at the lower border of the ascending price channel. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.

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Useful info and online charts

Visit the new section on Grand Capital website to monitor the rate changes of your preferred instruments and get useful information to help you decide on a trading strategy.

^{*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.}

#IRAO

The stock is trading in the lower range of 365 and 135 moving averages and is testing the price pivot zone of 5.270. Stochastic Oscillator indicates an oversold condition. The price is also at the lower border of the ascending price channel.

#IRAO rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.

Stop Loss under the price pivot zone of 5.270.

The Australian dollar against the US dollar provided slight positive trades yesterday to move above SMA 50, noting that the stochastic indicator lost its positive momentum to show clear overbought signs, which supports the chances of resuming the expected bearish trend for the coming period, which targets initially visiting the 0.7065 level.

We note that the continuation of the expected decline depends on stability below 0.7243, as a breach of it will lead the price to resume the main bullish trend again.

The expected trading range for today is between 0.7130 support and 0.7240 resistance.

The expected general trend for today: Bearish.

The euro fell against most major currencies, especially the dollar, during trading today, Wednesday, after the easing of trade tensions between the two largest economies in the world.

The Coronavirus crisis is still a preoccupation for world economies. Sometimes it is talked about the US Food and Drug Agency’s approval of recovered blood plasma as a treatment for the disease, and at other times the Financial Times reports that US President Donald Trump’s administration is studying the emergency use of the anti-AstraZeneca vaccine. For the coronavirus.

Market focus this week will turn to the "Jackson Hole" meetings of bankers and economists.

On the sidelines of the annual forum in "Jackson Hole", Central Bank President Jerome Powell will deliver a speech on Thursday to talk about the main challenges and steps of monetary policy.

In terms of trading, the euro fell against the US dollar by 07:32 GMT by 0.2% to 1.1817, and the highest price was recorded at 1.1843, while the lowest price was recorded at 1.1807.

Technical analysis

The recent trading of the euro against the dollar is confined to a bearish triangular flag pattern whose features appear in the above chart, therefore, the price needs to break 1.1800 to activate the negative impact of this pattern and then rush to resume the expected downside trend for the coming period, which targets testing the support of the main ascending channel at 1.1695.

From here, we will continue suggesting the bearish trend over the intraday term, taking into account that breaching 1.1850 is the first key to regaining the main bullish trend, and heading towards achieving positive targets that start with testing 1.1905 then 1.1950.

The expected trading range for today is between 1.1720 support and 1.1880 resistance.

The expected general trend for today: Bearish.

Gold prices rose during trading today, Wednesday, in the Asian session, after two days of recording losses, with attention shifting towards "Jackson Hole" and anticipation of the speech of the President of the Federal Reserve.

Central Bank President Jerome Powell will deliver a speech on Thursday on the sidelines of Jackson Hole meetings to talk about the most prominent challenges, monetary policy steps, and measures that can be taken to face the repercussions of Corona on the US and global economies.

And gold futures for December delivery in Tuesday's session fell by 0.8%, or the equivalent of 16.10 dollars, to 1923.1 dollars an ounce.

In a related context, the dollar index rose (against a basket of major currencies) by 06:18 GMT by 0.1% to 93.1 points, and recorded the highest level at 93.1 points and the lowest level at 92.9 points.

In terms of trading, spot gold prices rose by 0619 GMT by 0.2% to 1927.8 dollars an ounce, and the precious metal recorded the highest price at 1939.9 dollars and the lowest price at 1926.8 dollars.

Technical analysis

Gold price completed the formation of the head and shoulders pattern whose features appear in the above chart, after the daily candlestick closes below the broken neckline, and a retest of this level is now underway, while the stochastic indicator gradually lost its positive momentum.

Thus, these factors support the chances of achieving a further decline in the upcoming sessions, which mainly target 1907.00 - 1901.80 levels, noting that breaching 1929.50 then 1934.86 will stop the suggested decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 1905.00 support and 1950.00 resistance

The expected general trend for today: Bearish.

The Japanese Yen rose marginally against most of the major currencies, following the release of positive economic data, coinciding with pressure on the US currency.

And government data revealed that the price index of services producers in Japan rose by 1.2% last month, compared to expectations of a rise of 0.8%.

Tomorrow, Federal Reserve Chairman Jerome Powell will make important statements on the sidelines of the Jackson Hole meeting.

Trade tensions between America and China had subsided after the announcement of bilateral consultations over the phone between officials of the two countries to focus on trade relations and abide by the provisions of the first phase of the trade agreement.

Japan is suffering from the possibility of a second wave of the Coronavirus, in light of the high number of cases of the disease in some areas and talk about the possibility of imposing some restrictions and closures.

In terms of trading, the US dollar fell against the Japanese yen by 07:53 GMT by 0.1% to 106.3, and reached the highest level at 106.5, while the lowest price was recorded at 106.3.

Technical analysis

The dollar versus yen pair traded in a positive note yesterday, attacking the 106.44 level and trying to stabilize above it, but we notice that the price closed the daily candle below this level, and is moving below the resistance line that appears on the image, in conjunction with the clear negative signs appearing on the stochastic indicator.

Thus, these factors encourage us to favor the bearish bias in the upcoming sessions, noting that the next main target is at 105.20, while breaching 106.55 represents the key to the negative scenario halting and the shift to the upside in the intraday term heading towards 107.68 as a next positive target.

The expected trading range for today is between 105.60 support and 107.00 resistance

The expected general trend for today: Bearish

Sber Bank stock fell and breached the support level of 233.84, but it continues to move within the ascending channel as seen in the chart.

The current price action is between the support level 233.10 and the resistance level 245.57 over the medium period.

While the main targets will be at the support level 185.80 and the resistance level 239.00.

The moving averages 7-20 are above the price near the level of 233.10 and add pressure on the price for a further decline, while the 50 average remains moving below the price.

General direction of movement: Bullish path